Note Insurer Default definition

Note Insurer Default. The existence and continuance of any of the following:

Note Insurer Default. The existence and continuance of any of the following: (a) a failure by the Note Insurer to make a payment required under the Note Insurance Policy in accordance with its terms; or (b)

Note Insurer Default means any one of the following events shall have occurred and be continuing:

Examples of Note Insurer Default in a sentence

• In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer.

• Any right conferred to the Note Insurer shall be suspended during any period in which a Note Insurer Default exists.

• In addition, any other provision of this Agreement or any other Basic Document which is operative based in whole or in part on whether a Note Insurer Default has or has not occurred shall, at all times on or after the Policy Expiration Date, be deemed to refer to whether or not the Policy Expiration Date has occurred.

• Except as otherwise provided in Section 8.03 hereof and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer.

• In the absence of a Note Insurer Default, no Sale hereunder shall be effective without the consent of the Note Insurer.

More Definitions of Note Insurer Default

Note Insurer Default shall have the meaning assigned to such term in the Indenture.

Note Insurer Default means the occurrence and continuance of any of the following events: (a) the Note Insurer fails to make a payment required under the Note Insurance Policy in accordance with the terms of the Note Insurance Policy or (b) a Note Insurer Insolvency Event.

Note Insurer Default. Any one of the following events shall have occurred and be continuing:

Note Insurer Default means the existence and continuance of any of the following:

Note Insurer Default means any one of the following events shall -------------------- have occurred and be continuing:

Note Insurer Default. A failure by the Note Insurer to make a required payment under the Policy in accordance with the terms thereof.

Note Insurer Default means any period during which the Note Insurer has failed (and continues to fail) to honor proper claims made under the Note Insurance Policy.